Limelight Networks, Inc. (NASDAQ:LLNW) released its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 EPS for the quarter, Bloomberg Earnings reports. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The business had revenue of $46.07 million during the quarter, compared to the consensus estimate of $43.09 million. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. Limelight Networks updated its FY17 guidance to $0.06-0.08 EPS.
Limelight Networks (NASDAQ:LLNW) traded down 0.41% on Friday, reaching $4.88. 798,639 shares of the company’s stock were exchanged. The company’s market capitalization is $533.13 million. The firm has a 50-day moving average price of $4.10 and a 200-day moving average price of $3.39. Limelight Networks has a 1-year low of $1.70 and a 1-year high of $5.18.
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LLNW has been the topic of a number of research reports. BidaskClub raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. B. Riley raised their target price on shares of Limelight Networks from $5.30 to $6.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. TheStreet upgraded shares of Limelight Networks from a “d+” rating to a “c” rating in a research note on Thursday, July 27th. Cowen and Company restated an “outperform” rating and issued a $6.00 target price (up from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th. Finally, Zacks Investment Research downgraded shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Friday, September 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $5.00.
An institutional investor recently raised its position in Limelight Networks stock. The Manufacturers Life Insurance Company boosted its stake in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 4.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,823 shares of the information services provider’s stock after purchasing an additional 3,090 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Limelight Networks worth $193,000 at the end of the most recent quarter. 69.02% of the stock is owned by institutional investors and hedge funds.
Limelight Networks Company Profile
Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.
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